Prime Minister urges potential use of Waqf assets

Prime Minister Manmohan Singh on Wednesday launched the National Waqf Development Corporation Limited in New Delhi.

Speaking on the occasion, Manmohan Singh said that Waqf assets have the potential of generating considerable returns if used for social-economic development of the country. "Today we take another step forward in our efforts to promote the interests of minorities in our country," the Prime Minister said. The Prime Minister said that it will help to mobilise financial resources for starting schools, colleges and hospitals.

UPA chairperson Sonia Gandhi was also present at the inauguration. The corporation is one of the several initiative that the Minority Affairs Ministry has taken since its inception in 2006. He said that the government has implemented most of the recommendations of Sachchar committee and added that India has the largest number of Waqf properties in the world with more than 4.9 lakh registered properties in the country, he said.